Sri Lanka's Board of Investment (BoI) said it will sign agreements with four foreign investors in deals worth nearly $4bn.
BoI Chairman Upul Jayasuriya said the major deals, worth nearly double of last year's FDI of $1.6bn, will include a $30mn investment from German car giants Volkswagen, a ship breaking facility at Hambantota, a monorail project and a crane factory at Colombo Port.
Speaking on the Volkswagen deal to be signed, Mr Jayasuriya said,
“It’s not huge but it’s just the footprint. We have asked them to set it up and given a time period for them to export,”
“Idea is that now we have a huge brand like Volkswagen and other large companies like Toyota and Nissan can follow this.”
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